Short run result of Phillips curve (equation 7E)
| Variable | Coefficient |
|---|---|
| Constant | −0.9179 |
| (0.6426) | |
| EMPLOYMENTRATE(−1) | 1.2094 |
| (0.8370) | |
| D(EMPLOYMENTRATE) | 1.7053 |
| (1.1373) | |
| D(EMPLOYMENTRATE)(−1) | −1.1775 |
| (1.1373) | |
| D(EMPLOYMENTRATE)(−2) | −1.8642 |
| (1.1231) | |
| CointEq(−1) | −0.8986*** |
| (0.1806) |
| Variable | Coefficient |
|---|---|
| Constant | −0.9179 |
| (0.6426) | |
| EMPLOYMENTRATE(−1) | 1.2094 |
| (0.8370) | |
| D(EMPLOYMENTRATE) | 1.7053 |
| (1.1373) | |
| D(EMPLOYMENTRATE)(−1) | −1.1775 |
| (1.1373) | |
| D(EMPLOYMENTRATE)(−2) | −1.8642 |
| (1.1231) | |
| CointEq(−1) | −0.8986*** |
| (0.1806) |
Note(s): Standard error in parenthesis and *** indicate the statistical significance at the 1% level
Source(s): Authors’ calculation